Calamos Advisors LLC Raises Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Calamos Advisors LLC boosted its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 88.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,997 shares of the technology company's stock after purchasing an additional 58,085 shares during the quarter. Calamos Advisors LLC owned about 0.09% of Extreme Networks worth $2,076,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. Portolan Capital Management LLC lifted its position in shares of Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after purchasing an additional 700,724 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after purchasing an additional 269,459 shares during the period. Barclays PLC lifted its position in shares of Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after purchasing an additional 171,500 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Extreme Networks in the 3rd quarter worth approximately $2,113,000. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Stock Performance

Shares of NASDAQ EXTR traded down $0.10 during midday trading on Friday, reaching $15.39. The company had a trading volume of 825,647 shares, compared to its average volume of 1,063,454. The business's 50-day simple moving average is $17.07 and its 200 day simple moving average is $15.66. The stock has a market cap of $2.04 billion, a P/E ratio of -16.37, a P/E/G ratio of 2.99 and a beta of 1.73. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $19.24. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. On average, analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXTR. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum increased their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $22.00 target price on shares of Extreme Networks in a research report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the sale, the director now owns 366,793 shares in the company, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,725 shares of company stock worth $713,608 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.